wonga park

3115, Victoria

Real Estate & Property Information

Median
Price Rank
123

wonga park Suburb Profile & Review

Though Wonga Park is an outer Melbourne'suburb, you could be forgiven for thinking it is in the heart of the Yarra Valley. Delectable restaurants, cafes and wineries dominate the area. The Jump Inn cafe on Jumping Creek Road is known for its fantastic food and great service, while Saam Saii Thai features renowned authentic fare.

To the north, the Kellybrook Winery and Distillery has been producing excellent wines and ciders for over forty years. There is a fantastic restaurant on site which has a wonderful relaxed feel, aided by the use of an open log fireplace in the winter and a terrace with sweeping views of the vineyard. The cellar door is open seven days a week.

The 672 bus service runs through Wonga Park from Chirnside Park to Croydon. From Croydon Station, residents can catch a train to Flinders Street Station on the Lilydale line. The journey takes forty-five minutes.

wonga park Demographic Data

$ 676,000 Median House Price

41 Minutes Average Commute

40 Median Age

3,833 Population

49.26 % Female

50.74 % Male

1082 NO OF FAMILIES

2.0 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in wonga park, Victoria.

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wonga park Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

wonga park Median House Prices

  • 2008 $ 651,000
  • 2009 $ 650,000
  • 2010 $ 686,000
  • 2011 $ 622,500
  • 2012 $ 676,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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wonga park 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in wonga park have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term wonga park property price predictions.

wonga park Market Property Types

  • 100 % Seperate House
  • 0 % Semi Detached
  • 0 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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wonga park Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

wonga park Income & Mortgage Stats

  • $ 2,219 Median Weekly Household Income
  • $ 2,000 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in wonga park

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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wonga park Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

wonga park Sold Property Prices

wonga park Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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wonga park Restaurants

  • Saam Saii72 Jumping Creek Rdwonga park VIC 311503 9722 1828
  • Kellybrook WineryFulford Roadwonga park VIC 311503 9722 1304
  • Jump Inn70 Jumping Creek Rdwonga park VIC 311503 9722 1201

wonga park Cafes

  • Jump Inn Cafe70 Jumping Creek Roadwonga park VIC 311503 9722 1201

wonga park Schools

  • Wonga Park Primary SchoolDudley Roadwonga park VIC 3115(03) 9722 1325State Primary School

wonga park Childcare

  • Wonga Park Community Cottage Child CareOld Yarra Rdwonga park VIC 3115

wonga park Kindergarten and Preschools

  • Burch Family Memorial PreschoolOld Yarra Roadwonga park VIC 3115

wonga park Sporting Centres and Clubs

  • Parkview Riding Centrewonga park VIC 3115Horse Riding Club
  • Wonga Park Tennis Clubwonga park VIC 3115Tennis Club & Courts

wonga park Vets

  • Blue Cross Animal Societywonga park VIC 3115

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